As more consumers and small businesses expect to do business
quickly online, many financial institutions have looked to striking partnerships
with online lenders. However, as the American Banker reports today, another opportunity is for financial institutions to install their own technology platform. Many may not have know this was an option, but technology providers like us now have proven, installed and turn-key platforms with financial institutions.
While online partners compromise your control over your
customer relationships and risk, implementing your own platform provides you
with the highest control the underwriting, compliance,
data security and customer relationships, with the highest revenue and
efficiency impact.
Choices in Implementing Digital Online Lending
Online digital lending does not replace your existing loan processes
for large relationships, but provides you the turn-key technology to serve
large revenue opportunities with segments previously unprofitable: small business loans under $50k, consumer
loans under $5,000 and small consumer loans to low-to-moderate income
households. Cloud-based, secure technology is providing new processes to better serve specific customer segments. Let us provide a demo and
pro forma for what online digital lending can do for your revenues,
relationships and efficiency.
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